Qantas Needs More Cash

[Gingerbread]

QANTAS has warned it will need to take out loans or reduce its cash reserves to pay for its ambitious fleet plans if it cannot drastically boost profitability.Chief Executive Alan Joyce told an Australian and International Pilots Association dinner in Sydney on Tuesday that the airline needed to generate operating cashflow sufficient to fund $19billion worth of new aircraft Qantas has on order over the next 10 years.Steve Creedy's article in The Australian is available from: Qantas fleet plan won't fly without more cash | The Australian (http://www.theaustralian.news.com.au/business/story/0,28124,26050768-643,00.html)
:ooh:

[packrat]

No indication that management levels will be reduced .No indication that management remuneration will be reduced.
We have heard all this rhetoric before...SARS,911 bird flu etc.
Re introduce the staff suggestion scheme.The frontline troops have a much better understanding of the business and how to save money than management does.
There is an enormous amount of pentup staff enthusiasm just busting to make Qantas a better and more profitable airline.
Grow the network and the revenue will come

[Bo777]

I see where this is going ... Qantas gets shafted again.

[CaptCloudbuster]

Grow the network

Rumor has it Mr Clifford on a flight recently did not hide the plan in place for the future of Mainline to a CSM.

Mainline will not expand. The A380 will be the Rat's flag-bearer. Any expansion / career opportunities will be through Jet*.

Most of us on the 73 or 76 already know this though.... if only our AIPA EXEC would fully embrace this inalienable fact, stop hoping that QF Management can be trusted at their word, take decisive action NOW and stop governing AIPA entirely by Committee.

Barry, you wanted the Presidency, you got it. That means taking the $hit Managements going to throw at you....

[rudderless1]

He said the airline could fund its acquisitions by borrowing up to 85 per cent of the aircraft value, which would boost its gearing, or by drawing on its $3.6bn cash balance. But if it wanted to maintain current gearing and retain the current cash balance, $5.5bn from operating cashflow would be needed.

Yep, must always be ready for the next equity deal and the $500mil in management bonus's associated with the endorsement!

Cash reserves for the company growth are great, but not for a bunch of self indulging pricks who had nothing to do with its generation to milk it dry and leave the company and its real workforce truly exposed through no fault of their own.

Talent-less Scumbags

[Mr. Hat]

:confused:Wasn't it just a minute ago they talked of laying off SO's? What happened with that - what was the outcome? Did the paycut take place?

[OneDotLow]

Mr Hat,

Enough people bid for reduced value lines/leave without pay etc to do away with the need for redundancies at this stage.

ODL

[Mr. Hat]

Good to hear.

Aviation: One minute its the end of the world and the next "WE NEED TO BUY 400 AEROPLANES NOW!!!!".

[hotnhigh]

It is good Mr Hat, but don't forget the FO's that have more than 7 years in the company who will be bounced back to SO's. And yes, i can already hear the comment about rather being so'd than no job, which is very true, but the whole episode leaves a bitter taste when one considers what is happening elsewhere in 'the group'.
The future is bright, the future is orange. Shame they don't want us to have any part of it.:mad:

[stiffwing]

This is one of the reasons for the huge carrot being dangled in the form of the offer to transfer company sponsored super funds divisions.. At present one of the divisions is "defined" as being a liability. If QF can move a significant $$ value out of this, it will smarten up the books overnight